Three sources told Reuters that Vodafone (VOD.L) and CK Hutchison (0001. HK) are close to announcing their British operations merger on Friday or early next week.
One source stated the agreement follows Vodafone’s October announcement, with the British business owning 51% and Hutchison 49%, achieved by altering debt ownership rather than swapping cash.
Analysts value the purchase at 15 billion pounds ($18.6 billion) with debt.
Hutchison declined to comment. Vodafone was unavailable for comment.
The merger will make Britain’s largest mobile provider with 27 million users, surpassing BT’s (BT.L) EE and Telefonica’s (TEF.MC) and Liberty Global’s (LBTYA.O) VM O2.
Regulators who have rejected transactions that decrease key markets’ networks from four to three will scrutinize the agreement.
